MidnightTrader’s Earnings Play: Cognex
Cognex
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CGNX |
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PowerRating) is due with its Q1 results after the bell tonight, and analysts polled by Thomson Financial expect the company to report a profit of $0.17 per share on revenue of $59.9 million.
The stock is maintaining a widening pattern in its session-to-session price moves over the last four years, with the issue posting wider next-day percentage closing levels 12 times following 15 last after-hours earnings events that we’ve tracked. In the near-term, it favors widening, with three wider moves in the last four quarters.
On Feb. 14, 2008, the stock jumped 10.4% during evening trading after the company beat with Q4 results. The gain swelled to 26.2% the next day.
On Nov. 1, 2007, the stock gained 2.5% during evening trading after beating with Q3 results and setting guidance that straddles the Street view. The gain swelled to 18.8% the next day.
On Aug. 15, 2007, the stock fell 7.6% after reporting ahead with Q2 but missing with Q3 guidance. The loss was a wider 11.8% the next day.
On April 17, 2007, the stock dropped 10.4% in the evening hours after a miss and disappointing guidance. The loss was trimmed to 5.5% the next day.
On January 23, 2007, CGNX dipped 1.1% in after-hours trade when the company just missed Q4 sales estimates. Shares sank the next day, closing the regular session down 5.2%.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.